"The banks get reimbursed whether it is foreclosed, short sale, or Deed in lieu.. However in order to be reimbursed they must adhere to guidelines as set forth by HUD Fannie or Freddie Typically they are the same...
So there is…"
My wife and I have been trying to purchase a short sale property in Squaw Valley, CA for the past 10 months. The property was put on the market for 300k, but over 369 days, the price was reduced to 200k. Our 200k offer was finally approved after months of negotiating with Ocwen. (They initially wanted 235k. However, water is a major issue out here, and we showed them the well was only pumping less than half a gallon a minute, so we'll have to dig a deeper well. Also, we're getting a HAFA…See More
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